Gallery:

"The buzz is here," Iverson's agent, Leon Rose, told the Daily News this morning. "It's a great opportunity for Allen and something I know he's extremely excited about and looking forward to."

Iverson, who lives in Atlanta, is expected to arrive in Philadelphia in the next day or two.

A source familiar with the Sixers situation said the deal is for the remainder of the season, pro-rated at $1.3 million, the NBA veterans' minimum for players with at least 10 seasons of experience. The source said it is non-guaranteed, but would become guaranteed if Iverson is on the roster Jan. 10.

"In light of the recent injury to Lou Williams, which will sideline him for close to eight weeks, we felt that Allen was the best available free agent guard to help us at this time,'' said Sixers president/general manager Ed Stefanski.

Iverson was waived Nov. 16 by the Memphis Grizzlies after appearing in just three games. He and agent Leon Rose negotiated a settlement of his one-year contract.

Poll

Is bringing Iverson back a good idea?

Yes

No

Iverson spent the first 10 seasons-plus of his career with the Sixers before being traded to the Nuggets in December, 2006. He was subsequently traded to the Detroit Pistons.

Iverson, 34, is a 10-time All-Star and a four-time scoring champion. He was the league's Most Valuable Player in 2000-01.